Forex Trading recommendation on EURJPY 27-05-2016 by AzaForex forex broker

Simple tips to ​educate you about foreign exchange ​in the following article.
Euro exchange rate shows weakness against all currency pairs. Japanese Yen and the Euro did not give rise strongly. In the Forex market, there is no big active movements and, now visible on the chart flat, growing into downward movement. If the Euro will not stay at the level of 122.20 and will fall down through the support level, it will be possible to expect not a little movement, more than 100 points down before the next support levels.
 
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 122.20
•             The level of profit and close the position: 121.00 (120 pips)
 
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.4740
 
Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.1160
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 109.40
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9940